.35, vs estimates of .31
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Rational Software Reports Record Revenue and Net Income for
Fourth Quarter and Fiscal Year 2000
CUPERTINO, Calif., April 19 /PRNewswire/ -- Rational Software Corporation (Nasdaq: RATL - news), the e-development company, today
announced results for the fourth fiscal quarter and fiscal year ended March 31, 2000.
Revenue for the fourth quarter and fiscal year ended March 31, 2000 was $180,419,000 and $572,190,000, respectively, compared to $125,057,000
and $411,816,000 respectively, for the same periods last year. This reflects an increase in fourth quarter and fiscal year revenues of 44% and 39%,
respectively.
The company reported pro forma net income and earnings per share for the fourth quarter ended March 31, 2000 of $34,880,000 and $0.35,
respectively, compared to pro forma net income and earnings per share of $21,090,000 and $0.23, respectively, for the same period last year. This
reflects an increase in fourth quarter net income of 65% compared to the same period last year.
``This is far and away the strongest quarter in Rational's history,' said Paul Levy, co-founder and Chairman of Rational Software. ``As 'Global 2000'
businesses intensify their e-development investments, Rational's business continues to gain momentum and accelerate. The Internet, as a market-driving
force, is in its infancy and Rational is positioned to become one of the truly critical providers of the technology infrastructure that the Internet economy will
come to depend on.'
``While our record results and increasing sales momentum are impressive, the true strength of our company is our focus on customer success and the
strength and experience of our management team,' said Mike Devlin, co-founder and CEO of Rational Software. ``In order to stay well ahead of the
opportunities that we foresee for Rational Software and to continue to add to the bandwidth of the company's top management, Paul and I, while
continuing to serve as Chairman and CEO of the company, have promoted Tom Bogan, Rational's Chief Operating Officer, to become the company's
President.'
The company reported pro forma net income and earnings per share for the year ended March 31, 2000 of $94,537,000 and $0.99, respectively,
compared to pro forma net income and earnings per share of $59,249,000 and $0.65, respectively, for fiscal 1999. This reflects an increase in fiscal year
net income of 60% compared to fiscal 1999.
Pro forma net income and earnings per share for the periods reported exclude a one-time charge for purchased in-process R&D, and amortization of
goodwill and purchased intangible assets related to the ObjecTime, Ltd acquisition. Pro forma net income and earnings per share for the periods reported
also exclude the net activity (R&D expense and interest income less portion allocated to minority interest) incurred by the newly formed Internet venture,
Catapulse, Inc.
As reported net income and earnings per share on a diluted basis for the fourth quarter ended March 31, 2000 was $25,916,000 and $.26, respectively,
compared to as reported net income and earnings per share of $21,090,000 and $0.23, respectively, for the same period last year.
As reported net income and earnings per share on a diluted basis for the year ended March 31, 2000 was $85,314,000 and $0.89, respectively,
compared to as reported net income and earnings per share of $59,249,000 and $0.65, respectively, for fiscal 1999. |
